Sompo has appointed Ms Lily Claydon as CRO, effective 3 March 2025. In her new role, she will be responsible for leading Sompo's APAC risk management, governance and analytics, in addition to developing talent and capabilities across the region. She will also join the APAC executive team based in Singapore.
China's national financial regulator has issued the first-of-its-kind insurance guidelines for EVs and plug-in hybrids.
A new health insurance plan for senior citizens and individuals with pre-existing conditions will be launched in April.
Meiji Yasuda Life Insurance will acquire Banner Life Insurance for ¥352.2bn ($2.3bn) and also invest ¥130bn for a 5% equity stake in the US firm's parent, Britain's Legal & General Group. As the domestic market shrinks, a number of Japanese life insurers are expanding overseas for growth.
Data from the Insurance Bureau has revealed that Taiwan's insurance industry earnings in December increased by 248.1% to NT$341.5b ($10.3b), with life insurers contributing 92.4% of the total.
A recent survey by business insights company MDRi, has revealed a diverse array of health and medical insurance needs across Hong Kong and Singapore.
Manulife Asia has appointed Mrs Adrienne O'Neill as Asia CFO; Mr Benoit Meslet as CEO of Singapore, effective 1 June 2025 and pending regulatory approval; Dr Khoo Kah Siang as CEO of emerging markets; Ms Lauren Sulistiawati as CEO of Indonesia, effective 24 February 2025 and pending regulatory approval; Mr Phil Witherington as president and CEO of Manulife, effective 9 May 2025 and Mr Ryan Charland as CEO of Japan, effective 1 May 2025.
China has granted ten major insurance companies, including PICC Property & Casualty and China Life Insurance, approval to invest in gold for the first time, a move that could inject up to CNY 200bn ($27.4bn) into the market and drive-up prices.
Health insurance's share in the non-life segment is set to surpass other categories put together as the sector continues to expand, reported Times of India.
Ly Hour SBI Insurance board member and chief executive officer Okhna Ly Sopheap said in an interview with Cambonomist, that despite facing a series of global challenges, the Cambodian insurance sector is still able to stand strong and play a significant role in helping to develop the economy.